Rivian secures up to $6.6B DOE loan for Georgia EV plant; production targeted 2028

Rivian Automotive, Inc. / DE

Loan arranged by DOE via ATVM Program; total up to $6.6B ($6B principal + $600M capitalized interest).
Two tranches: Block 1 up to $3.355B (15-yr term, amortization starts Mar 2031); Block 2 up to $2.620B (10-yr term, amortization Jun 2032).
Interest rate = US Treasury-equivalent yield with 0% credit spread, set at each advance.
Georgia facility expected to produce 400k units/year (R2, R3) across two blocks; construction begins 2026, production 2028.
Loan will create 7,500+ jobs; conditions precedent include positive gross margin and vehicle sales metrics before first draw.

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